The Kiwibank Low Rate MasterCard is a low interest rate credit card that offers a competitive 13.45% p.a. on purchases plus up to 55 interest free days. Also, when you transfer your outstanding balance from another non-kiwibank credit card you pay only 1.99% p.a. for the first 6 months on the balance transferred. If you have significant existing credit card debt this card might be suitable for you. The minimum monthly repayments is 5% or $10 whichever is greater.
- Purchase Rate: 13.45%
- Cash Advance Rate: 22.95%
- Balance Transfer: 1.99% p.a. for 6 months
- Annual Fee: $50 i.e. $25 account fee every six months. $5 fee for a joint or additional cardholder every six months
- Interest Free Days: 55 days*
- Card Reward Details: No Rewards
- Credit Limit: Unknown
Your eligibility for this card would depend on a few criteria listed below. When you apply for the card, Kiwibank would ask you a few questions about these criteria to determine your eligibility.
Note: You have to be a New Zealand permanent resident, and have a good credit history to apply for a Kiwibank Credit Card
Documents RequiredIn general the following documents are usually required for credit card applications.
Proof of IncomeOne of the following:
- your most recent payslip or salary notice
- copies of bank statements that show your pay or salary deposits
- a letter from your employer confirming your income
- an Inland Revenue Department (IRD) “summary of earnings” notice.
- signed financial statements for the past two years
- a signed personal Statement of Financial Position
- your personal tax return.
Proof of IdentityA copy of one or two items from List A. If you provide only one item from List A, you must also provide one item from List B.
- Current passport
- New Zealand drivers licence
- 18+ card
- Photo Credit Card
- Most recent bank statement
- Debit card
- Credit card
- Community services card
- Club or society card.